Wendy’s to Shut Hundreds of US Outlets as it Doubles down on Value

With input from FOX Business and the Street.

Wendy’s is about to get smaller — at least in store count — and a lot scrappier on price.

Interim CEO Ken Cook told investors the chain will close roughly 5%–6% of its US restaurants in the first half of the year — that’s about 298–358 locations — after already shutting 28 shops in Q4 2025. The move comes as the company tries to claw back customers: US same-store sales plunged 11.3% in the October-to-December quarter, a gut punch that Cook called a sign 2026 must be “a rebuilding year.”

The closures are part of a broader turnaround plan rolled out under Project Fresh, announced last October, which aims to “revitalize the brand, reignite growth and accelerate profitability.” A big chunk of that playbook is a return-to-value strategy: the chain launched a permanent value menu, Biggie Deals, with $4, $6 and $8 tiers in January and is promising new menu hits — a chicken sandwich and an over-the-top “cheesy bacon cheeseburger” — to lure people back.

Wendy’s isn’t the only one leaning into bargains. Rival McDonald’s has leaned hard on value and saw US sales jump 6.8% in the fourth quarter, CEO Chris Kempczinski told investors — a reminder that affordability is sticking with customers right now.

CFO Suzanne Thuerk said the steep US sales drop came down to fewer customers, not lower checks: traffic evaporated, even though average transaction sizes rose. That kind of double-digit same-store decline is rare for big chains and typically forces the hard choices we’re seeing now: trim the footprint, tweak hours, and stop bleeding money at underperforming outlets so the rest of the system can breathe.

Part of the recovery plan also means dialing breakfast back where it hasn’t worked. The company will keep breakfast as a daypart systemwide for many locations, but it’s letting individual restaurants opt out or shorten morning hours if the numbers don’t justify the menu. Cook framed that as practical flexibility to protect franchisee profitability.

Bottom line: this isn’t a small tactical pivot. Wendy’s is pruning stores, resetting its value message, and retooling dayparts because customers voted with their feet. If Project Fresh works, the chain could stabilize — but fixing traffic and trust will take more than a new sandwich photo. This year is about rebuilding relevance, one closed door and one value meal at a time.